Indus ministry mulls additional taxes with metals, chemical firms

MOSCOW, Aug 15 (PRIME) -- Russia’s Industry and Trade Ministry is discussing a new tax to withdraw additional incomes with metals and chemical companies, the ministry said in a statement on Wednesday.

Last week President Vladimir Putin’s aide Andrei Belousov suggested additional taxes totaling up to 500 billion rubles a year on some metals, petrochemical, and fertilizer producers, including metals giant Norilsk Nickel, diamond mining giant ALROSA, and petrochemical holding Sibur.

“The Industry and Trade Ministry of Russia is holding consultations with the companies of the metals and chemical industries under the rulings of the president and of the government. We are analyzing the possible impact that the potential measures to withdraw additional incomes received by companies for the government may have on the economy, including the impact on the investment plans of some companies, and on the industries in general,” the ministry said.

“We will work out a consolidated position on the issue soon.”

(66.7535 rubles – U.S. $1)

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